iCapital, a New York-based alternative investment marketplace, has secured over US$820 million in its latest funding round, bringing its valuation to more than US$7.5 billion.
The round was co-led and funded by accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, alongside SurgoCap Partners.
The company currently services US$945 billion in assets globally, including US$257 billion in alternative platform assets, US$203 billion in structured investments and annuities, and US$485 billion in reported client assets.
iCapital continues to expand its technology and data infrastructure to support wealth and asset management at scale.
“This capital raise reflects our investors’ enthusiasm for the opportunity we have to transform the investing experience,”
said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital.
“More importantly, it enables us to accelerate the work that matters most, delivering differentiated value to our clients. They are the cornerstone of everything we do, and this funding ensures we stay ahead of their needs, today and into the future.”
The company stated that the proceeds will be used to support strategic acquisitions aimed at improving the advisor and client experience, expanding asset manager reach, and reducing friction in the investment ecosystem.
iCapital offers an integrated platform for alternatives, structured investments, and annuities, providing tools for education, transactions, data flows, analytics, and support throughout the investment lifecycle.
The private markets sector is expected to grow substantially over the coming years.
According to BlackRock’s 2025 Private Markets Outlook, wealth channels could allocate up to US$20 trillion to private markets by 2030.
iCapital’s platform aims to support this growth by providing a unified interface for onboarding, document workflows, performance tracking, and regulatory compliance.
Since its founding in 2013, iCapital has invested over US$700 million in its platform and expanded its capabilities globally.
The firm has completed 23 acquisitions, including Mirador, AltExchange, and Parallel Markets. It now has 1,875 employees across 16 global offices.
The company reports continued profitability and growth, with increases in transaction volume, client adoption, and platform engagement.
iCapital now supports more than 750 product providers and 3,000 wealth management firms.
In the past year, the number of funds on the platform grew to 2,100, and active financial professionals using the system rose to 114,000.
Featured image credit: Edited by Fintech News America, based on image by jcomp via Freepik
